Latest Europe Headlines
All the headlines from our Europe Topic Page, ordered by recency.
Iran Oil Shipments Skirting Tanker Insurance Ban
Jul 12 2012 // Iran is shipping oil to China, its top buyer, despite a row over freight terms, and Japan has taken steps to resume imports in August as Tehran finds ways to get around Western sanctions on ship insurance for its...
Japan Insurers Expand Cover to Boost Iran Oil Shipping Capacity
Jul 11 2012 // Japanese insurers are expanding their maritime coverage to allow more domestic tankers to transport Iranian crude, as Tokyo looks to keep oil flowing despite tough Western sanctions, industry sources said on...
US Lawmaker Asks Tuvalu to Stop Reflagging Iran Oil Tankers
Jul 10 2012 // A prominent U.S. lawmaker has asked the small South Pacific island nation of Tuvalu to stop reflagging Iranian oil tankers and warned its government of the risks of running afoul of U.S. sanctions. The European Union...
Euro Zone May Be Fragmenting Faster than EU Can Act
Jul 10 2012 // Signs are growing that Europe’s economic and monetary union may be fragmenting faster than policymakers can repair it. Euro zone leaders agreed in principle on June 29 to establish a joint banking supervisor for the...
Ratings Recap: Kuwait Re, Ageas, Al Fajer Re, Generali (Notes)
Jul 6 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Kuwait Reinsurance Company K.S.C. (Closed), but...
UK Insurer Aviva Culls Units in Turnaround Drive
Jul 6 2012 // Aviva, the UK’s No.2 insurer, plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors irked by the group’s flagging share price. The company, whose...
No Let Up in Gloom for Europe’s Biggest Economies
Jul 5 2012 // All of Europe’s biggest economies are in recession or heading there and there is little sign things will improve soon, surveys showed on Wednesday, backing a growing view that the region’s major central banks...
ECB President Draghi Says EU Crisis Summit Delivered ‘Tangible Results’
Jun 29 2012 // European Central Bank President Mario Draghi said on Friday he was pleased with steps taken at the summit of EU leaders, including a decision to allow direct recapitalization of banks, but added that future aid must be...
US Grants Iran Sanctions Exceptions to China, Singapore
Jun 29 2012 // The United States gave China a six-month reprieve from Iran financial sanctions on Thursday, avoiding a diplomatic spat with a country whose support it needs to try to quell violence in Syria and rein in Tehran’s...
EU Agency ENISA Calls for ‘Kick-start’ in Cyber Insurance Market
Jun 29 2012 // Europe’s citizens and businesses could benefit from better protection for their computer systems and data if the cyber insurance market can be kick-started, according to a recently released report from the European...
Ratings Roundup: MAPFRE PRAICO, Tunis Re
Jun 28 2012 // A.M. Best Co. has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of MAPFRE PRAICO Insurance Company, its wholly owned subsidiary, MAPFRE...
Germans Say “Nein! No! Non!” Ahead of Euro Summit
Jun 28 2012 // EU leaders go into a Brussels meeting today, Thursday June 28, more openly divided than at any time since the euro crisis began, with Germany’s Chancellor Angela Merkel showing no sign of relenting in her refusal to...
Best Sees No Change in MAPFRE USA Group Ratings
Jun 27 2012 // A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings of “a” of the members of MAPFRE USA Group are unchanged following the recent market...
Best Sees No Change in MAPFRE RE’s Ratings despite Spain’s Economic Woes
Jun 27 2012 // A.M. Best Europe – Rating Services Limited has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of MAPFRE RE, Compania de Reaseguros,...
Best Affirms Ratings of ACE European Group Limited
Jun 26 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of “aa” of UK-based ACE European Group Limited (AEGL), both...
So. Korea to Halt Iran Oil Imports as EU Insurance Ban Bites
Jun 26 2012 // South Korea became the first major Asian consumer of Iranian crude to announce a halt to imports after the government said they would be suspended from July 1 due to a European Union ban on insuring tankers carrying...
Europe’s Tower of Babel Hampers Solution to Euro Crisis
Jun 26 2012 // As Europe considers a leap towards closer integration to try to save the euro single currency, it resembles the biblical Tower of Babel – unable to complete an ambitious project because the residents don’t...
Lloyd’s Details ‘Growing Impact of Climate Change’ as UN Meets
Jun 25 2012 // Lloyd’s has published a roundup of the environmental issues inherent in as the world grows warmer. The recently concluded Rio +20 Conference was an attempt – 20 years after the first conference – “to try to...
Euro Zone’s Big Four Agree on $163 Billion Growth Boost; Split on Euro Bonds
Jun 22 2012 // The leaders of Germany, France, Italy and Spain agreed on Friday on a €130 billion ($163 billion) package to try to revive economic growth in Europe but differed over whether and how to launch joint bonds to combat the...
Ratings Recap: Validus Re, African Re, Arab Orient, Bosna Re, SOGAZ
Jun 21 2012 // A.M. Best Co. has removed from under review with developing implications and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Bermuda-based Validus Re...
